Kevin Olson, who headed the company as Chairman and Chief Executive Officer for the past four years, announced the promotions to employees last week. Under Olson’s tenure as CEO, revenue grew at a three year compounded annual growth rate (CAGR) of 40%. Universal’s growth rate exceeds that of the country’s largest background screening companies, according to KPMG Corporate Finance’s Valuation Update for the HR Outsourcing Industry. Olson will remain with Universal as its Chairman of the Board.

“Employers throughout the United States have responded favorably to Universal Background Screening’s approach to business and client service. As a result, our growth has exceeded our expectations and it certainly is competitive with others in the industry,” explained Olson. “Our growth is a direct result of the exceptional level of service provided by every Universal employee, under the direction of Ryan, Nancy and Alaine. It is with great pride that I announce their promotions as we prepare to enter a new year.”

Krostue was promoted from Executive Vice President to Chief Executive Officer. Since joining the company in 2002, he has led the company’s sales, marketing and product management areas, focusing on strategic partnerships and technical innovations. He brings over 10 years of marketing, product development and entrepreneurial management experience. Krostue is a graduate of Arizona State University.

Hyttel was promoted from Vice President of Operations to Senior Vice President and Chief Financial Officer. Her prior experience includes nearly 20 years of operational and fiduciary management in the commercial real estate, hospitality and financial services industries. Hyttel holds a degree from the University of Wisconsin at Eau Claire.

Both Krostue and Hyttel have been closely involved in the operation and management of the company since 2002 when an investment group, led by Olson, purchased Arizona Drug Screening and Investigations. Since that time, the company has been transformed from a regional firm to a national provider of employment screening, drug testing and related services.

Edwards was promoted from manager of the company’s verifications division to Vice President of Operations. Under her management of the verifications division, it experienced an annualized growth in volume of 146%. At the same time, her division was able to provide faster and more accurate primary source verification of employment, education, professional license and credential information. She joined the company earlier this year and brings 20 years of operational management experience from the financial services industry.